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HCL Tech enters multi-year partnership with ING Germany brand Lendico
21-Sep-21   14:42 Hrs IST

HCL informed that it has entered into a multi-year application services transformation partnership with Lendico to deliver application and engineering services that will create a digital platform. The platform will help in faster business banking. The platform will also be more convenient for small- and medium sized enterprises (SMEs).

HCL will establish a tech lab in Berlin that will combine fintech mindset, agile culture and customer focus with engineering expertise, global delivery capabilities, and deep domain knowledge of financial services and risk management. Lendico will be the first to leverage the lab to bring innovative approaches for processes, such as credit decisioning, loans collections and KYC. The lab will also enable transformational technology architectures, such as API gateways and microservices.

Shares of HCL Technologies were trading 2.11% higher at Rs 1,301.35 on BSE. The counter hit an all-time high of Rs 1,315.10 today after the IT company announced a five-year, digital transformation deal with MKS Instruments Inc for advanced manufacturing processes, to improve performance, productivity and speed to market. In a separate filing, HCL said it will drive digital and cloud-enabled transformation for MKS Instruments through AI/ML-led automation, enhanced user experience with end-to-end Infrastructure services, digital workplace services and IT transformation.

HCL Technologies is a leading global technology company. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). On a consolidated basis, the IT firm's net profit jumped 8.5% to Rs 3,214 crore on 2.2% increase in revenues to Rs 20,068 crore in Q1 FY22 over Q4 FY21.

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